Monday, September 29, 2014

Giant Manhattan developer takes over Astoria megaproject

Earlier this week, the Durst Organization bought the long-awaited development site at Hallets Point, paying "well over $100 million" for a 90 percent stake in the Astoria megaproject.

The Hallets Point development has been in the works for years, and developer Lincoln Equities finally got the greenlight from the city last fall. All told, the project will have 1,921 apartments (plus 483 affordable units), spread across seven buildings. The plans also call for an esplanade, a school and retail space, including a supermarket. Interestingly, the New York City Housing Authority struck a deal that will allow the developer to build and operate two affordable buildings on the grounds of Astoria Houses, the nearby public housing complex.

So the affordable housing will be on the grounds of the projects and the council went for this?? ROFLMAO!!!

11 comments:

Anonymous
said...

So more than half of the peninsula being almost free living projects isn't enough?? The affordable units should be given the premium views too? Gonna be hard enough to sell the project with its long commute to the train, the collateral crime that comes with living next door to the pj's, and nothing close by in the way of restaurants and nightlife. Any investment there is almost a gift to the area. Just my two cents

from curbed on council approval of the project said there are eleven buildings, 2644 dwelling units, four affordable buildings on the public housing super block totaling 340 affordable units, one market rate building there too with 240 market units. 143 affordable units not on nycha land too. Did something change?

Don't you love the pictures of these projects, the buildings a shadowy grey with only the lower 2 stories of a 40 story building depicted (how many to be built - 8 or 9?), with lots of green focusing on the postage stamp park, and tons of smiling white people, well-dressed white people, and no one on the community board or press asking for something that even faintly resembles reality.

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